Supreme Court allows employees to buy state shares for free under privatization law even for pre-1990 transfers.
Poland (PL)
Legislator summary
AI generatedThe Supreme Court resolved a legal question regarding whether employees could acquire state shares for free in a company formed before the 1990 Privatization Act. The court found that the 1996 Privatization Law applies to such cases because the underlying asset transfer principles were identical regardless of the specific prior statute used. Consequently, the court ruled that the statutory provision granting free share acquisition rights extends to employees of companies where state assets were contributed under earlier laws.
Legislator headnote
AI generatedArt. 63 ust. 3 ustawy z dnia 30 sierpnia 1996 r. o komercjalizacji i prywatyzacji przedsiębiorstw państwowych; The provision granting employees the right to acquire state shares for free applies to employees of enterprises where state assets were contributed to a company under laws preceding the 1990 Privatization Act, provided the substantive transfer principles were identical.